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QS Energy Partners With JBL Royalty Company to Drive Oil & Gas Acquisition Strategy
QS Energy Partners With JBL Royalty Company to Drive Oil & Gas Acquisition Strategy.
About this update from Qs Energy, Inc.
[{"type":"text","content":"\nQS Energy Partners With JBL Royalty Company to Drive Oil & Gas Acquisition Strategy \n\nQS Energy Partners With JBL Royalty Company to Drive Oil & Gas Acquisition Strategy\n\n\n SANTA BARBARA, CA--(Marketwired - March 08, 2016) - \n QS Energy, Inc. (the \"Company\") (OTCQX: QSEP), a developer of integrated technology solutions for the energy industry, today announced that it has signed a joint venture agreement with JBL Royalty Company, LLC, a wholly owned subsidiary of JBL Energy Partners, an oil and gas exploration and production company, to assist in identifying and assessing undervalued oil and gas leases, properties and other assets. As a JV partner to QS Energy Pool (\"QSEP\"), the Company's wholly owned subsidiary established for pursuing acquisition opportunities, JBL Royalty Company will source and evaluate proved developed producing (PDP) oil & gas properties, with upside cash-producing potential through the drill bit. \"Coming on the heels of our announcement that a recently re-engineered and upgraded AOT unit will be re-deployed on a major condensate line in south Texas, our partnership with JBL Royalty Company further underlines our commitment to executing purposefully and aggressively on our previously stated dual-pronged growth strategy,\" stated Greggory M. Bigger, QS Energy Chief Executive Officer and Chairman. \"Our goal and objective over a rolling 12-month period is to identify acquisition opportunities that yield the Company nearly $4,000,000 in net operating cash flow on a per annum basis. With access to favorable equity and secured debt financing, we can position these projects for long term growth within the oil and gas vertical.\"Headquartered in Texas, JBL Royalty Company is a wholly owned subsidiary of JBL Energy Partners, an independent E&P firm experienced in managing the well operations and output of early stage and mature properties in the East Texas basin and the Gulf Coast. Following the industry's first use of enhanced oil recovery techniques nearly a decade ago to extract tight oil and gas from shale formations, JBL Royalty Company has purchased, leased or joint ventured a variety of acreage positions in several high oil and gas production regions of Texas. \"Since announcing the formatio...